India presenting great business opportunities

The ever-increasing foreign direct investment and steadily decreasing unemployment presents great opportunities for the Indian diaspora to invest in India, Acting Indian High Commissioner S Janakiraman said here today.

Highlighting the ‘Make in India’ programme introduced two years ago, Janakiraman told the nearly 200 delegates gathered from around the world at the first Global People of Indian Origin (Gopio) Business Summit that the steps taken to simplify doing business in India were already well-known to Indian businessmen abroad.

“The high speed-railway network development; highways and roads which are being developed as fast as any developed nations do, are some of the projects that offer participation in contracts,” Janakiraman said.

“Similar to South Africa, India is also prioritising ports as a hub for South-East Asia, with the focus on movement of trade using advance handling infrastructure systems.” Other areas for foreign investments included renewable energy, information technology, medical equipment, medical tourism, food processing and startups which are revolutionising the Indian economy because it can take just one week in some sectors, the diplomat said.

“Anyone here can also help develop the 100 smart cities planned for India, with allowance for 100 per cent FDI profit repatriation.

“Small or big projects can make you part of developing the new India,” Janakiraman concluded.

Gopio was established in New York in 1989 as a non-profit global movement to fight human rights violation of overseas Indians. The priorities of the organisation have since changed to efforts to pool resources, both financial and professional, for the benefit of the global diaspora and India.